SEC 8-K filings with transcript text
Aug 5, 2026
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Exhibit 99.1
Contacts:
Media
Investor Relations
Brian Grace
Sean Meakim
(602) 897-0205(623) 223-5980
Brian.Grace@honeywellaerospace.us Sean.Meakim@honeywellaerospace.us
Honeywell Aerospace reports second quarter results;
updates 2026 outlook
•Sales of $4.5 billion, reported and organic1 sales up 5% year over year
•Net income of $0.3 billion and adjusted EBIT1 of $1.0 billion, excluding pro forma standalone adjustments
•Revises full-year sales and pro forma standalone adjusted EBIT1 guidance and issues full-year pro forma standalone adjusted earnings per share1 guidance
•Completed spin-off from Honeywell Technologies on June 29
PHOENIX, August 5, 2026 -- Honeywell Aerospace (Nasdaq: HONA) today announced results for the second quarter following the completion of its spin-off from Honeywell International Inc. (“Honeywell Technologies”, Nasdaq: HON). The company also updated its full-year 2026 outlook for organic1 sales and pro forma standalone adjusted EBIT1, initiated full-year 2026 pro forma standalone adjusted earnings per share1 guidance, and maintained its second half 2026 free cash flow1 guidance range.
“Our successful separation marks an important milestone for Honeywell Aerospace, and we enter this next chapter with solid momentum. We delivered mid-single-digit sales growth in our final quarter as a segment of Honeywell as the significant customer demand for our mission-critical portfolio continues. Secular trends across our end markets remain strong while supply constraints limited output growth in the quarter,” said Jim Currier, Chief Executive Officer of Honeywell Aerospace. “As we establish Honeywell Aerospace as a standalone company, we will harness our increased financial flexibility and leverage our Honeywell Aerospace Operating System to drive greater innovation, more resilient output, and above market growth over time.”
Currier continued, “For the second half of 2026, we believe it is prudent to align our guidance to our supply chain’s demonstrated capabilities at the end of the second quarter. At the same time, we are taking the strategic and tactical actions necessary to position Honeywell Aerospace for accelerating growth and compelling financial performance. We are committed to delivering on the 2030 targets laid out at Investor Day in June, and we are moving with the speed and urgency required for improved performance in 2027 and beyond.”
Recent Honeywell Aerospace highlights
•Honeywell Aerospace hosted its inaugural Investor Day in Phoenix on June 3, during which it presented its three strategic priorities for creating substantial value: expand leadership in attractive end markets, invest in differentiated technology platforms and strengthen operational capabilities to unlock further growth.
•The Honeywell Aerospace Operating System, with its standardized approach to decision-making, problem solving and communicating, is being rolled out across the company.
•Several critical supply chain actions are underway, including:
◦Qualifying over 50 new suppliers, with 50 more expected for the second half;
◦Increasing investment in supplier tooling, with planned spending up 20% in the second half versus the first half and doubling from 2025 to 2027, of which approximately 70% is going to castings; and
◦Expanding the number of multi-sourced parts by more than 15% for the year.
•Year to date, the company has secured $15 billion of new wins (estimated lifetime value) highlighted by the following announcements:
◦IndiGo has selected Honeywell Aerospace’s flagship avionics and power systems for its order of 810 new Airbus A320neo family aircraft. This agreement represents the largest new-aircraft-selectable equipment win in company history.
Honeywell Aerospace 2Q26 Results - 2
◦The company announced that Aeromexico intends to adopt its newest and most advanced runway safety technology, known as Surface Alerts (SURF-A), across the carrier’s Boeing 737NG and 737MAX fleet of more than 100 aircraft. SURF-A is a prime example of the retrofit, modification and upgrade (RMU) growth strategy.
◦Civitanavi Systems’ ARGO 4000 inertial measurement has become a preferred solution for European OEMs integrating guidance capability into missile programs, unmanned platforms, maritime vessels and land vehicles.
Summary financial results
Honeywell Aerospace sales for the second quarter increased 5% on a reported and organic¹ basis year over year. Backlog grew to $18.2 billion at quarter end, up 9% from the prior year, and trailing twelve-months orders were up 8%, led by continued strength in Defense and Space. Adjusted EBIT was down 7%, including approximately $100 million of separation-related costs and inventory obsolescence charges.
($ in millions, except per share amounts) 2Q 20262Q 2025% Change
Backlog$18,154$16,6009%
Sales$4,522$4,2895%
Net income$256$852(70)%
Adjusted EBIT1 $995$1,066(7)%
Earnings per share2 $0.78$2.66(
Jun 29, 2026
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Exhibit 99.1
(Dollars in millions)
Condensed Combined Statements of Operations
(Unaudited)
Product Sales$2,233 $2,425 $2,533 $2,794 $9,985
Service Sales1,841 1,864 2,000 1,714 7,419
Total Net sales4,074 4,289 4,533 4,508 17,404
Costs, expenses and other
Cost of products sold1,635 1,837 1,950 2,128 7,550
Cost of services sold916 888 926 1,061 3,791
Total cost of products and services sold2,551 2,725 2,876 3,189 11,341
Research and development expenses167 167 186 157 677
Selling, general and administrative expenses365 383 441 481 1,670
Other expense, net58 14 289 6 367
Total costs, expenses and other3,141 3,289 3,792 3,833 14,055
Income before taxes933 1,000 741 675 3,349
Income tax expenses147 148 87 245 627
Net income786 852 654 430 2,722
Less: Net income attributable to noncontrolling interest9 8 10 8 35
Net income attributable to Honeywell Aerospace$777 $844 $644 $422 $2,687
Product Sales$1,958 $1,993 $2,020 $2,164 $8,135
Service Sales1,744 1,847 1,856 1,863 7,310
Total Net sales3,702 3,840 3,876 4,027 15,445
Costs, expenses and other
Cost of products sold1,398 1,542 1,599 1,902 6,441
Cost of services sold855 905 882 860 3,502
Total cost of products and services sold2,253 2,447 2,481 2,762 9,943
Research and development expenses139 131 149 148 567
Selling, general and administrative expenses332 346 352 396 1,426
Other expense, net38 32 24 47 141
Total costs, expenses and other2,762 2,956 3,006 3,353 12,077
Income before taxes940 884 870 674 3,368
Income tax expenses146 136 134 103 519
Net income794 748 736 571 2,849
Less: Net income attributable to noncontrolling interest10 7 8 7 32
Net income attributable to Honeywell Aerospace$784 $741 $728 $564 $2,817
(Dollars in millions)
Supplemental Quarterly Segment Information
(Unaudited)
Net Sales by Reportable Segment
Electronic Solutions$1,550 $1,645 $1,708 $1,913 $6,816
Engines and Power Systems(1) 1,274 1,390 1,478 1,269 5,411
Control Systems1,250 1,254 1,347 1,326 5,177
Total Net sales$4,074 $4,289 $4,533 $4,508 $17,404
Net Sales by End Market
Commercial Original Equipment$632 $640 $642 $680 $2,594
Commercial Aftermarket(1) 1,857 1,881 2,084 1,839 7,661
Defense and Space1,585 1,768 1,807 1,989 7,149
Total Net sales$4,074 $4,289 $4,533 $4,508 $17,404
Net Income$786 $852 $654 $430 $2,722
Segment Profit
Electronic Solutions$410 $475 $510 $593 $1,988
Engines and Power Systems(1) 193 256 299 (57)691
Control Systems447 361 376 339 1,523
Corporate and All Other(10)(26)(34)(47)(117)
Total segment profit*$1,040 $1,066 $1,151 $828 $4,085
Adjusted EBIT*
Electronic Solutions$410 $475 $510 $593 $1,988
Engines and Power Systems193 256 299 316 1,064
Control Systems447 361 376 339 1,523
Corporate and All Other(10)(26)(34)(47)(117)
Adjusted EBIT*$1,040 $1,066 $1,151 $1,201 $4,458
* Total segment profit, Adjusted EBIT, and Segment adjusted EBIT are non-GAAP measures. Refer to the appendix for reconciliation of non-GAAP measures.
1 Reflects a reduction to Net sales and Segment profit by $312 million and $373 million, respectively, as a result of the settlement of the Flexjet-related litigation matters in the fourth quarter of 2025.
Net Sales by Reportable Segment
Electronic Solutions$1,389 $1,372 $1,488 $1,776 $6,025
Engines and Power Systems(2) 1,206 1,306 1,248 971 4,731
Control Systems1,107 1,162 1,140 1,280 4,689
Total Net sales$3,702 $3,840 $3,876 $4,027 $15,445
Net Sales by End Market
Commercial Original Equipment(2) $672 $595 $626 $268 $2,161
Commercial Aftermarket1,670 1,813 1,701 1,962 7,146
Defense and Space1,360 1,432 1,549 1,797 6,138
Total Net sales$3,702 $3,840 $3,876 $4,027 $15,445
Net Income$794 $748 $736 $571 $2,849
Segment Profit/Adjusted EBIT
Electronic Solutions$436 $417 $485 $574 $1,912
Engines and Power Systems(2) 286 302 233 (129)692
Control Systems329 279 248 370 1,226
Corporate and All Other(15)(41)(36)(30)(122)
Total segment profit/adjusted EBIT*$1,036 $957 $930 $785 $3,708
* Total segment profit, Adjusted EBIT, and Segment adjusted EBIT are non-GAAP measures. Refer to the appendix for reconciliation of non-GAAP measures.
2 Reflects a reduction to Net sales, Segment profit, and Adjusted EBIT of $372 million as a result of a strategic agreement with Bombardier in the fourth quarter 2024.
Non-GAAP Financial Measures
The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this schedule to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP).
Management believes that, when considered together with reported amounts,
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